It has entered the industry lately and now turning the attention of many towards collectivized staking.
The way a few sectors of the world have acquired massive momentum and growth over the years can be credited to the incessant hard work and creative ideas combined with visionary business approaches of professionals that have proved to be game-changers in their industries. No one can deny that the technological development the world has been experiencing today is because people have believed in its power and potential, and likewise, now they have been showing belief in the potential of the ever-evolving and growing digital financial industry. This is because things have really changed and have developed more intrigue in people to place their bets on aspects like NFTs, crypto, blockchain, and the Ethereum world. Helping people develop more confidence in themselves is a new platform called Agora Protocol.
Agora Protocol is a newly developed platform and now has been gradually gaining much momentum on social media as well, especially Twitter. It is a one-of-a-kind platform that is all about collectivized staking to support the ETH2 network. First of all, people may wonder what Ethereum2 is? Well, Ethereum2 is an upgrade to the Ethereum network, which is aimed at improving the security of the network and scalability. This upgrade is also about a shift in Ethereum’s mining model, which is Proof of Work, to a staking model, which is Proof of Stake.
So, in simple words, ETH2 has staked ETH. Agora Protocol is clear in its protocol, where it allows customers the ability to stake their ETH for earning rewards. When people stake their ETH, it converts to ETH2. Also, the price of both is identical, and once the upgrade to the Ethereum network is complete, both ETH and ETH2 merge into one token. Agora Protocol wants to make sure people work towards collectivized staking to support the ETH2 network.